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Rocket cash money growth launch
Lenders are gaining the upper hand as well as the ability to build a stronger portfolio.
The Boca Raton-based developer sees ample lender interest in new apartment building in up-and-coming markets.
Local family office FoxRock Properties is redeveloping the former Quincy Medical Center.
Even as interest rates increase, the imbalance between supply and demand will keep driving new residential developments. There are 'more resilient factors' that keep capital flows stable, Precis's Randeesh Sandhu said..
Panelists on Ariel Property Advisor’s latest webinar discussed cap rate compression in the context of multifamily in cities like New York – some saying investors will flee the city, others calling it a safe haven.
Charles Foschini, who arranged the loan via Berkadia, said rising rental rates at Enclave at Lake Ellenor meant the borrower was able to secure better terms.
Through the new partnership, the organisations have already closed two deals, including the £251m financing of a residential development in London’s Nine Elms.
The firm also believes historic tax credits are an interesting way to finance the development of affordable housing.
The JV marks Kayne Anderson’s first foray into the European student housing market.
The Brava
The Brava, a 46-story multifamily building under construction in the city's central business district, is expected to come to market in 2022.
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